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Money, growth and finite horizons

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  • Petrucci, Alberto

Abstract

The implications of endogenous labor supply for money superneutrality in OLG economies are analyzed. Inflation increases capital and output, while it affects labor ambiguously in a closed economy. Inflation reduces capital and output, but stimulates wealth in an open economy.
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Suggested Citation

  • Petrucci, Alberto, 2005. "Money, growth and finite horizons," Economics Letters, Elsevier, vol. 86(2), pages 259-263, February.
  • Handle: RePEc:eee:ecolet:v:86:y:2005:i:2:p:259-263
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    References listed on IDEAS

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    1. Wang, Ping & Yip, Chong K, 1992. "Alternative Approaches to Money and Growth," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 24(4), pages 553-562, November.
    2. Blanchard, Olivier J, 1985. "Debt, Deficits, and Finite Horizons," Journal of Political Economy, University of Chicago Press, vol. 93(2), pages 223-247, April.
    3. Hahn, Frank, 1990. "On Inflation," Oxford Review of Economic Policy, Oxford University Press, vol. 6(4), pages 15-25, Winter.
    4. Drazen, Allan, 1981. "Inflation and capital accumulation under a finite horizon," Journal of Monetary Economics, Elsevier, vol. 8(2), pages 247-260.
    5. Orphanides, Athanasios & Solow, Robert M., 1990. "Money, inflation and growth," Handbook of Monetary Economics,in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 1, chapter 6, pages 223-261 Elsevier.
    6. Van Der Ploeg, Frederick & Marini, Giancarlo, 1988. "Finite horizons and the non-neutrality of money," Economics Letters, Elsevier, vol. 26(1), pages 57-61.
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    More about this item

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • O42 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Monetary Growth Models

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